(CNN) – Forever 21 has filed for bankruptcy again, making it the second time in the past six years.
In its filing Sunday, the company cited increased competition from foreign retailers of fast fashion.
It’s been struggling in recent years to keep up with Chinese owned retailers Shein and Temu, especially since online shopping boomed during the pandemic.
Forever 21 said it will hold liquidation sales at its United States stores and is trying to find a buyer for some or all of its assets.
Forever 21 first filed for bankruptcy in 2019 but was able to stay afloat after being purchased by investors.
Copyright 2025 CNN Newsource. All rights reserved.